Real Estate fees

[JohnnyWishbone]

Hopefully they will come down in Canada too. Selling a $600k 1 bedroom condo shouldn't cost you $30K plus lawyer fees.

 

[Not getting younger]

Hopefully they will come down in Canada too. Selling a $600k 1 bedroom condo shouldn't cost you $30K plus lawyer fees.

Probably not.

How much you will to pay them when your on the buy side and they

Spend a 100 hours or make taking you to 50 homes. Many of which they know aren’t in your budget.

Spend a 100 hours or more completing offers and you don’t get the house. Even when they know, your offer doesn’t stand a snowballs chance in hell.

Spend another hundred hours taking you to another 50 houses before you say, yes let’s put in an offer.

And lose again. And again and again…

Then call a different agent to take you to another 30 houses,

Do you work for free?

 

[oakvilleguy]

Probably not.

How much you will to pay them when your on the buy side and they

Spend a 100 hours or make taking you to 50 homes.

Spend a 100 hours or more completing offers and you don’t get the house

Spend another hundred hours taking you to another 50 houses before you say, yes let’s put in an offer.

And lose again. And again and again…

Then call a different agent to take you to another 30 houses,

Do you work for free?

But but everyone wants something for free

 

[Not getting younger]

But but everyone wants something for free

Or are trying to save a few bucks and won’t offer what they suggest…..

Or when they say their limit is “$1,000,000 but let’s go see 30 houses at “$1,175,00” anyways. Who knows they might accept a low ball.

Or after spending hours by a phone talking to selling agents, and buyers are sending offers, and won’t sweeten the deal by “20,000” just to lose again and again.

 

[altid13]

Fee structure will change. I assume it will turn into something like:

Seller:

1. Realtor Fee
2. Weekly/Monthly MLS Listing Fee.
3. Professional Photographer Fee
4. etc... Basically any and all fees to list your home will be itemized and invoiced to you.

Buyer:

1. Realtor Fee includes up to 10 home visits plus 1 offer.
2. Same as # 4 above.
3. Fees are paid outside of the home price. Currently buyer commission fees are included in and financed with the home price.

I read buyer # 3 is what analysts are expecting and it may hurt first time home buyers since they have to pay the realtor out of pocket. People will get creative, and we will see how it shakes out.

But it means you can shop for a realtor who gives you the best fees for the types of services you want.

 

[stephenp]

Or are trying to save a few bucks and won’t offer what they suggest…..

Or when they say their limit is “$1,000,000 but let’s go see 30 houses at “$1,175,00” anyways. Who knows they might accept a low ball.

Or after spending hours by a phone talking to selling agents, and buyers are sending offers, and won’t sweeten the deal by “20,000” just to lose again and again.

I'm sure there are many awful clients like this but I do feel it may evolve in a direction where they get charged more and less onerous clients get charged less rather than a higher % on everyone to cover for the bad ones